August 2000
PM217 : PROJECT MANAGEMENT

QUESTION 2

Total Marks: 15 Marks

• Question 1
• Question 3
• Question 4
• Question 5
• Cover Page

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SUGGESTED SOLUTIONS
for Question 2

(a) (i) Methods and procedures are one of the ways to manage complexity in a
project. The key to implementing effective methods and procedures is captured in the sequence. Experience; Learn; Revise; Promulgate.
Explain the importance of each of these four steps. [4]
(ii) Describe any one problem (commonly encountered) in following this
approach [1]

(b) Risk response planning is concerned with developing strategies to cope with risk events. Explain any two risk-coping strategies. [2]

(c) Risks are typically categorised into four categories, namely technical, market, financial, and human risks. Describe in some detail all four of these categories. [8]